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Gainesville FL Real Estate Market Trends – October 2016

November 18, 2016 · No Comments

mortgage rates

Is Now a Good Time to Buy a Home?

With historically low mortgage rates and steady job gains among young adults, all the pieces are coming into place for homeownership rates to rise.

  • In the third quarter of 2016, 71 percent of people believe that now is a good time to buy a home. Forty-three percent believe that strongly, up from 42 percent in Q2 2016.
  • Only 29 percent of people believe that now is not a good time to buy a home.
  • Across all groups surveyed, the majority feel that now is a good time to buy a home.
  • Three in four people who currently own a home, those over 45 years of age, those with incomes over $50,000, and those in the Northwest, Midwest, and South believe that now is a good time to buy a home, which is consistent with Q1 and Q2 2016. 

Take a look at how many folks bought homes in our market last month…

Gainesville FL Real Estate Market Trends – October 2016

The Gainesville FL area single family home sales saw the average sales price increase by 10.54% when compared to October 2015.  The numbers of new listings decrease by 10.2% and pending sales decreased by 17.43%.  While sold listings saw an increased of 9.18% and market times dropped by 7 days.

Gainesville Area
Single Family

New Listings Pending Sales Sold Listings Avg. Sales Price Days on Market
Oct 2016 264 180 202 $232,963 124
Oct 2015 294 218 185 $210,739 131

The Gainesville FL area Condo home sales saw the average sales price increase by 21.3% when compared to October 2015.  New listings decrease by 20.98% and pending sales decreased by 19.56%. While sold listings increased 2.17%and market times dropped by 92 days or 46.34%.

Gainesville
Area Condo
New Listings Pending Sales Sold Listings Avg. Sales Price Days on Market
Oct 2016 49 37 47 $106,734 107
Oct 2015 62 46 46 $87,988 199

For the latest Gainesville FL real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

Categories: Area Info · Buyer Info · Market Trends · Real Estate
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